How relationships between IT and business impact transformation outcomes

In today’s rapidly evolving business landscape, the synergy between IT and lines of business is more critical than ever. Discussions at a virtual CIO roundtable hosted by CIO.com with PwC Managed Services leaders in February delved into strategies designed to enhance this collaboration and drive continuous transformation. Several key themes came up during the conversation that included 15 CIOs and IT executives.

Creating synergy in the IT-business relationship

Historically, IT departments operated in silos, primarily serving as support functions. As technology becomes central to competitive advantage, this traditional model is rapidly evolving. As Danielle emphasized during the roundtable, “Every company today is a technology company. IT leaders should be business leaders first.” This shift indicates IT needs to be embedded within business strategy, fostering real-time collaboration to meet market demands effectively.

Transitioning from episodic transformation to continuous innovation

Many organizations have traditionally approached digital transformation episodically, as a series of discrete projects. This model is becoming obsolete. As we noted, companies are transforming at the pace of organizational change, not the speed of business. Leading enterprises are now adopting continuous innovation models, where cross-functional teams comprising IT, business, and compliance professionals collaborate to respond swiftly to changing market conditions.

Transitioning from siloed operations to integrated, product-oriented teams is crucial for sustained innovation. Adopting continuous improvement models, where IT and business functions coalesce around shared objectives, can help drive more effective outcomes.

Navigating the rise of low-code/no-code platforms

The advent of low-code/no-code platforms has empowered non-technical employees to develop solutions, accelerating innovation. While the proliferation of “citizen developers” fosters collaboration, it necessitates evolving governance structures to maintain security and compliance. Platforms designed to address these concerns can help reduce the risks.

Balancing speed with governance

The velocity of technological change demands that organizations adapt swiftly. One roundtable participant emphasized that while tools and environments have evolved, the fundamental challenge of managing the increasing speed of change remains. Integrating finance, risk, audit, and compliance from the outset can help you navigate this complexity effectively.

“Everybody has to come together to drive these transformational changes and connect all these dots,” added Tim during the roundtable. “The right coordination and intersection of multiple groups is even more important in today’s environment,” he noted, with the confluence of changes that seem to be happening at the same time, in multiple dimensions—“including changing regulations, taxes, trade and tariffs.”

Addressing regulatory and compliance hurdles

Regulatory and compliance requirements can often impede the pace of innovation. One executive described losing a substantial business opportunity with a project that faced significant delays due to prolonged legal and compliance approvals. Streamlining these processes and fostering early collaboration among stakeholders are vital to prevent such bottlenecks.

Bridging the IT talent gap

As the lines between IT and business blur, there’s an increasing need for professionals who possess both technical and business acumen. Investing in reskilling programs can help organizations equip their workforce with the necessary skills to navigate this evolving, more integrated landscape.

The expanding role of the CIO

Today’s CIOs are not just technology leaders but pivotal business strategists. By being business leaders first and technologists second, CIOs can align IT initiatives with core business metrics to drive value.

The insights from the CIO Roundtable underscore the imperative for organizations to foster a cohesive IT and Business Unit relationship. By embracing continuous transformation, streamlining governance and investing in talent development—while focusing on outcomes and driving value—companies can navigate the complexities of today’s technological landscape and achieve sustained success.

Discover how PwC can assist in aligning your IT and business strategies and accelerate your outcomes. Visit PwC Managed Services.